Alight, Inc. (NYSE:ALIT) Short Interest Update

Alight, Inc. (NYSE:ALITGet Free Report) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 20,340,000 shares, a decrease of 5.4% from the February 29th total of 21,500,000 shares. Approximately 5.0% of the company’s stock are short sold. Based on an average daily volume of 7,220,000 shares, the short-interest ratio is presently 2.8 days.

Insiders Place Their Bets

In other Alight news, insider Katie J. Rooney sold 2,777 shares of Alight stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $9.70, for a total transaction of $26,936.90. Following the transaction, the insider now owns 2,927,314 shares of the company’s stock, valued at approximately $28,394,945.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Katie J. Rooney sold 2,777 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $9.70, for a total transaction of $26,936.90. Following the completion of the sale, the insider now directly owns 2,927,314 shares of the company’s stock, valued at approximately $28,394,945.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephan Scholl sold 428,574 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $9.81, for a total transaction of $4,204,310.94. Following the completion of the transaction, the chief executive officer now directly owns 8,198,199 shares in the company, valued at $80,424,332.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 467,113 shares of company stock valued at $4,554,296. Corporate insiders own 3.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ALIT. Kingdon Capital Management L.L.C. bought a new stake in shares of Alight during the 4th quarter valued at $7,677,000. HBK Investments L P raised its position in Alight by 33.3% in the 4th quarter. HBK Investments L P now owns 800,000 shares of the company’s stock worth $6,824,000 after buying an additional 200,000 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Alight in the fourth quarter worth $515,000. Vanguard Group Inc. lifted its holdings in Alight by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 35,198,914 shares of the company’s stock valued at $300,247,000 after acquiring an additional 547,614 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Alight by 25.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,505,079 shares of the company’s stock worth $46,958,000 after purchasing an additional 1,128,049 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ALIT. Canaccord Genuity Group started coverage on Alight in a research note on Wednesday, December 6th. They issued a “buy” rating and a $12.00 price objective on the stock. Canaccord Genuity Group upped their price target on Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Needham & Company LLC raised their price target on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. TheStreet raised shares of Alight from a “d+” rating to a “c-” rating in a report on Tuesday, December 12th. Finally, Wedbush lifted their price objective on Alight from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alight currently has a consensus rating of “Buy” and an average price target of $12.71.

Get Our Latest Report on ALIT

Alight Stock Down 2.2 %

Shares of NYSE:ALIT opened at $9.44 on Wednesday. The stock’s 50-day moving average price is $9.26 and its 200-day moving average price is $8.19. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.58. Alight has a 12-month low of $6.33 and a 12-month high of $10.38. The stock has a market capitalization of $5.31 billion, a P/E ratio of -17.16, a price-to-earnings-growth ratio of 1.48 and a beta of 0.92.

Alight (NYSE:ALITGet Free Report) last issued its earnings results on Wednesday, February 21st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. Alight had a negative net margin of 7.80% and a positive return on equity of 5.09%. The company had revenue of $960.00 million for the quarter, compared to the consensus estimate of $1.03 billion. On average, equities analysts anticipate that Alight will post 0.5 earnings per share for the current year.

Alight Company Profile

(Get Free Report)

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.

See Also

Receive News & Ratings for Alight Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alight and related companies with MarketBeat.com's FREE daily email newsletter.